Condominium Association management services are very similar in overall scope to HOA management. High Rise condominium buildings typically are much more complex and require knowledge of those specific building types as well as their mechanical systems and maintenance requirements.
Our services will include a complete scope as generally associated with Homeowners Associations and Condominium Associations.
Below are listed our general categories of management services.
-General book keeping services - including but not limited to the following.
-Chart of Accounts - Set up to meet your specific bank account requirements and your budgeted income and costs.
-Budget - Annual Budget is generally a joint effort with the final approval by the Board of Managers followed by installation into the book keeping system.
-Accounts Payable - Includes data entry, check preperation and delivery to signatory parties followed by disbursement to vendor/payee.
-Monthly Cost Report - An integrated system tied to Budget and Chart of Accounts.
-Monthly Reporting System - Will include all activity for the past month with monthly cost and cost to date vs. budgeted cost to date. Will include a list of all checks for the past month, ownerdues balances and a Balance Sheet listing bank accounts, payables and receivables.
-Dues - Invoicing and collection.
-Year End by Association Accountant - Will include all monthly reports as well as bank statements sent to your accountant for review and tax filings as well as the year end financial report to the client / association.
-Annual Meeting - We work with the Board Secretary to establish the date, set up the Meeting Notice, prepare proxy/Ballots, mail ballots out at the appropriate time in accordance with they By-Laws, count Ballots and aid the board wherever possible in conducting the meeting.
-Regular Board Meetings - We attend those board meetings as requested by the Board, however there may be conflicting meetings at times. Meetings by tele-conference are also possible and have worked very well for us in the past.
-Site Inspections - Inspections of the property common areas will be conducted as contracted. These inspections will cover review of regular vendor contract progress, maintenance requirements, safety, lighting, smoke alarm tests and general review of the property. Follow up with vendors including performance tracking and corrective measures.
-Owner Questions - Availability to owners as may be required during regular work hours Monday through Friday 8:00 am to 5:00 PM for general information or specific account information.
-Emergency Service - Available after hours, weekends and holidays for emergency situations as may be required and covered by contract.
-Owner Files - Owner information on file will be of aa general nature such as home phone, cell phone, work phone, e-mail, emergency contact name and numbers and other pertinent information as mey be required by the board.
-Documents - Provision of documents required for unit sale, refinance, insurance and other as may be required and contained within contract documents.
-Vendor set up and support - Will meet with routine vendors such as janitorial, landscaping, trash collection, and septic services as well as other routine contractors engaged in continuous service to the property. Will send request for bid documents to prospective contractors, receive and review bids and submit quotations to the Board of Directors for contract award.
-Insurance - Will collect vendor insurance certificates and file with the Master Policy.
-Vendor Files - As requested for book keeping, quotes, contracts, invoices, and payment information as well as other records and information which may be requested by the board and per contract.
Maintenance & Improvements
-Contract Maintenance - Routine maintenance items such as janitorial, landscaping, plowing, septic pumping etc. are annual contracts and are monitored through onsite inspections. Any regular work that is incomplete or not up to par, the contractor will be notified and requested to revisit.
-Maintenance Projects - Non routine projects requested by or suggested to the Board of Managers may be set up as an RFQ (request for quotation) and sent to prospective bidders for competitive bid prices. The bids are received by us for review and sent to the Board for awards. This work will be planned and completed in accordance with contract requirements.
-Oversight - All maintenance oversight will be performed and documented in accordance with contract requirements.
We believe that the above covers many of the facets of Community Association Management. Should you be interested in more in depth information please do not hesitate to call us.
Condominiums come in all shapes and sizes. From big brick and steel highrise buildings featuring beautiful views and custom interiors...
To historic mansions repurposed at some point in their past.